IPFS News Link • Economic Theory
Alasdair MacLeod on Dollar Hegemon Death
• https://www.zerohedge.com, by GoldFix ZH"Bottom line, Gold comes back, both sides know it, and competitiveness aside, they are navigating the dilemma as frenemies."
Contents:
Introduction
The Birth of a New Gold-Backed Trade Settlement Currency
Challenging Keynesian Misconceptions
The Dollar's Dire Situation
The BRICS Gold-Backed Trade Currency and the Dollar's Vulnerability
Triffin's Dilemma
Triffin's Crisis
Balance of Terror
The Bigger Threat to the Euro and Sterling
Gold: The Future Anchor
The End of the Fiat Currency Era
Conclusion
Introduction
In a recent Goldmoney Insight, Alasdair MacLeod delved into the proposal for a new gold-backed trade settlement currency to be discussed at the BRICS summit. This latest missive by him examines the ramifications this could have on the current dollar-based fiat currency regime. Subscribers can also read the original 5300 word missive here in Why The Dollar Is Finished on ZeroHedge.
Here is our summary and analysis of that work.
The Birth of a New Gold-Backed Trade Settlement Currency
Evidence suggests that the concept of a new trade settlement currency, backed by gold, has been carefully considered for some time, as far back as 2017 at least. The upcoming BRICS meeting in Johannesburg aims to take the initial step away from fiat to gold-backed currencies. Unlike welfare-dependent nations, the attendees can back their currencies with gold more easily, which aligns with their commercial interests.